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Article: Reforming Russia's tycoons.(economic reform, entrepreneurship and foreign investment in Russia)
- Article from:
- Foreign Policy
- Article date:
- May 1, 2002
- Author:
CopyrightCOPYRIGHT 2002 Carnegie Endowment for International Peace. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Something happened on the way to the fire sale of Russia's vast natural resources. In the wake of the Soviet collapse, new Russian conglomerates--not bigger, more experienced Western firms--unexpectedly came out on top. Now Russia's young captains of industry a re poised to expand their global reach. But their success depends on how quickly they can abandon the shady business practices on which their empires were built.
In the early 1990s, the South African diamond firm De Beers seemed poised to capitalize on the collapse of the Soviet Union: Russia was the source of a fifth of the world's diamonds, and now the industry needed investors. So De Beers entered into ...